Listed property companies outperform NZX50 by over 11%.

UPDATED 1pm: Australian stock exchange down, New Zealand market up.

UPDATE 3.45pm: Results are mixed on the New Zealand sharemarket, which is up 0.82% to 3,209.989 points today after a turbulent week so far.

The DNZ Property Fund will be added to the NZX 50, replacing New Zealand Farming Systems Uruguay (NZS), which drops off after its takeover by Olam.

NZS will be removed because it ranks below 65th, following the recent acquisition of a 78% stake by Olam.

Ranking for the NZX 50 is by NZ Free Float Market Capitalisation, from which large strategic holdings are excluded.

DNZ listed on the NZX on August 16.

The index changes announced today will be implemented after market close on Friday October 15 and will come into effect on Monday October 18.

There are no changes to the NZX 50 in the latest quarterly index review, but Allied Farmers will get another shot in June after its harsh rejection last month.

There was only one change in all of the NZX equity indices this quarter, with Sunseeker Energy removed from the NZX SciTech index and NZAX All index after being suspended from trading on the NZAX with no activity for a year.

Allied Farmers’ once-promised promotion to the NZX 50 has been deferred for three months.

Pyne Gould Corporation has booted Skellerup Holdings out of the NZX top 50, after proving it could keep its liquidity levels stable.

The change - a result of the latest NZX index review - is effective from today